Finder makes money from featured partners, but editorial opinions are our own.

Rewards credit cards that are the real deal

Be the VIP you were born to be with premium perks, cashback and flights to Antarctica (if you want).

Picture not described
1 - 8 of 107
Name Finder Score Bonus points Points per $ spent Purchase rate p.a. Annual fee
ANZ Rewards Black Credit Card
ANZ Rewards Black Credit Card image
Finder Award
ANZ Rewards Program
Finder score
9.4
Bonus points
180,000
Points per $ spent
2
Purchase rate p.a.
20.99%
Annual fee
$375
Go to siteMore Info
Get 180,000 bonus ANZ Reward Points (worth $800+ in digital gift cards) and $150 back when you spend $3,000 in the first 3 months.
Qantas American Express Ultimate Card
Qantas American Express Ultimate Card image
Qantas Frequent Flyer
Finder score
8.5
Bonus points
90,000
Points per $ spent
1.25
Purchase rate p.a.
23.99%
Annual fee
$450
Go to siteMore Info
Get a yearly $450 Travel Credit and up to 90,000 bonus Qantas Points (70,000 when you spend $3,000 in the first 3 months and 20,000 points in year 2).
Qantas Premier Platinum
Qantas Premier Platinum image
Qantas Frequent Flyer
Finder score
7.3
Bonus points
100,000
Points per $ spent
1
Purchase rate p.a.
19.99%
Annual fee
$349 first year ($399 after)
Go to siteMore Info
Earn up to 100,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers, with a 2% BT fee.
Virgin Money Anytime Rewards Credit Card
Virgin Money Anytime Rewards Credit Card image
Virgin Money Rewards
Finder score
8
Bonus points
80,000
Points per $ spent
1
Purchase rate p.a.
19.99%
Annual fee
$149
Go to siteMore Info
Offers 80,000 bonus Virgin Money Points (worth $400 in gift cards) when you spend $3,000 or more on eligible purchases in the first 3 months.
Westpac Altitude Qantas Black
Westpac Altitude Qantas Black image
Qantas Frequent Flyer
Finder score
8.2
Bonus points
120,000
Points per $ spent
0.75
Purchase rate p.a.
20.99%
Annual fee
$370
Go to siteMore Info
Up to 120,000 bonus Qantas Points (90,000 points when you spend $6,000 in the first 120 days & 30,000 points after the first spend in year 2).
Westpac Altitude Platinum Card
Westpac Altitude Platinum Card image
Westpac Altitude Rewards
Finder score
7.4
Bonus points
120,000
Points per $ spent
1
Purchase rate p.a.
20.99%
Annual fee
$49 first year ($175 after)
Go to siteMore Info
Up to 120,000 bonus Altitude Points (90,000 points when you spend $3,000 in the first 90 days & 30,000 points after the first spend in year 2).
ANZ Rewards Platinum
ANZ Rewards Platinum image
ANZ Rewards Program
Finder score
7.1
Bonus points
100,000
Points per $ spent
1.5
Purchase rate p.a.
20.99%
Annual fee
$149
Go to siteMore Info
Get 100,000 bonus ANZ Reward Points (worth $440 in eGift cards) and $50 back when you spend $2,000 on eligible purchases in the first 3 months.
American Express Qantas Business Rewards Card
American Express Qantas Business Rewards Card image
Qantas Business Rewards
Finder score
6.1
Bonus points
150,000
Points per $ spent
1.25
Purchase rate p.a.
0%
Annual fee
$450
Go to siteMore Info
(ABN holders w/ $75k revenue). Earn 150,000 bonus Qantas Points and a $200 credit when you spend $6,000 in the first 3 months.
loading
Showing 8 of 29 results
Finder makes money from featured partners, but editorial opinions are our own.

Video: Best rewards cards roundup 2024

Our round-up of rewards credit card offers

Here are some of the top rewards cards this month, based on their Finder Scores:

  • The American Express Platinum Card has a Finder Score of 10.
  • The ANZ Rewards Black Credit Card has a Finder Score of 9.4.
  • The NAB Rewards Signature Card has a Finder Score of 9.08.
  • The BankSA Amplify Signature has a Finder Score of 9.07.
  • The St.George Amplify Signature has a Finder Score of 9.07.
  • The Bank of Melbourne Amplify Signature has a Finder Score of 9.07.
  • The Citi Prestige Card has a Finder Score of 8.85.

Updated 2 July 2024 by money editor, Richard Whitten.

Rewards score tiers - what you need to know

  • 9+ Excellent - These cards offer the best ongoing earn rates and sign up offers, coupled with attractive annual fees and perks.
  • 7+ Great - Reasonable rewards cards but may offer slightly lower ongoing or signup offers.
  • 5+ Satisfactory - These cards may offer lower ongoing and sign up points, but could also offer fewer perks or higher annual fees.
  • Less than 5 – Basic - Entry level rewards cards, that offer consumers basic sign up offers and ongoing earn rates.

The lowdown on how we score

We carefully analyse 300+ credit cards and assess six features, assigning them individual scores out of 10.

Points from rewards programs are converted to a dollar value, by determining the number of points required to purchase a grocery store gift card, or a direct dollar value conversion, within the rewards program store.

A card will get a different Finder Score in each category, depending on which features are being assessed.

To qualify for the rewards score, credit cards must:

  • Offer signup or ongoing rewards points affiliated to a rewards program.
  • Be available to general consumers.

Our aim is to help your with financial decision-making, but please consider your own financial circumstances. While we may make money from commercial partnerships, they have no weight in our methodology. The database is scored objectively and reviewed by our editorial team.

Rewards score weightings

FeatureDefinitionAssessmentWeight
Earn RatePoints earned for every dollar spent on eligible purchasesPoints awarded per dollar. Points are converted to a dollar value30%
Sign-Up PointsBonus points earned for signing up and meeting spending requirementsTotal bonus points offered. Points are converted to a dollar value30%
Purchase RateInterest rate on new purchasesLower rates receive higher scores (up to 23.99% max)10%
Earn Rate capMaximum points earned in a billing cycle before a lower earn rate appliesHigher caps or no caps receive higher scores10%
First-Year FeeFee charged for the first year of card ownershipLower fees receive higher scores ($0 fee scores highest)10%
Ongoing Annual FeeFee charged from the second year onwardsLower fees receive higher scores ($0 fee scores highest)10%

Best AMEX rewards card - American Express Platinum Card

American Express Platinum Card

  • 200,000 Bonus Points and Yearly $450 Travel Credit
  • $1,450 Annual fee
  • N/A Purchase rate
Ends on 01 October 2024

Pros & cons

  • 200,000 bonus Membership Rewards Points
  • $450 Platinum Travel Credit each year
  • Airport lounge access at over 1,400 locations with the American Express Global Lounge Collection
  • Up to $400 back per calendar year at participating restaurants with American Express Global Dining Credit
  • High $1,450 p.a. annual fee
  • 3% foreign currency conversion fee
  • American Express is not as widely accepted as Visa or Mastercard

Why we like it

The American Express Platinum Card comes with a stack of Membership Rewards Points, travel credit, airport lounge access and more. But with a high annual fee you'll need to make sure you're getting your money's worth out of the card.
This card has a Finder Score of 10 in the rewards category.

Best Big 4 Bank rewards card - ANZ Rewards Black

ANZ Rewards Black Credit Card

  • 180,000 Bonus Points & $150 back
  • $375 Annual fee
  • 20.99% Purchase rate

Pros & cons

  • 180,000 bonus ANZ Reward Points
  • $150 back on your new card
  • Up to 2 ANZ Reward Points per $1 spent
  • Complimentary extras including travel insurance and a personal concierge
  • Charges a relatively high annual fee of $375 p.a.
  • 3% foreign transaction fee
  • Additional cardholder fee of $65 per card

Why we like it

The ANZ Rewards Black Credit Card offers a generous amount of ANZ Reward Points if you meet the spend requirements. And you can redeem them for Velocity Points. It has a decent earn rate too, plus some travel perks. The $375 annual fee is on the higher side, but worth it if you get full value out of the card.
This card has a Finder Score of 9.4 in the rewards category.

Best rewards card - St.George Amplify Signature

St.George Amplify Signature

  • 150,000 Bonus Points & First-Year Annual Fee Discount
  • $199 Annual fee
  • 20.99% Purchase rate
Ends on 31 July 2024

Pros & cons

  • 150,000 bonus Amplify Points
  • Discounted $199 first-year annual fee
  • Shopping cashbacks through ShopBack
  • 2 complimentary airport lounge passes per year
  • Complimentary overseas travel insurance for up to 6 months
  • $295 annual fee after the first year
  • 3% foreign transaction fee

Why we like it

The St.George Amplify Signature has a generous bonus points offer and a low first year annual fee. You can convert Amplify Points to Velocity Points, which gives you more options if you want frequent flyer points. It also offers complimentary travel insurance and some nice shopping cashbacks.
This card has a Finder Score of 9.07 in the rewards category.

What is a rewards credit card?

A rewards credit card gives you some kind of additional benefit when you use the card. This could be:

  • Points with a bank reward program like CommBank Awards, ANZ Rewards or AMEX Membership Rewards.
  • Points with a frequent flyer program like Qantas Points or Velocity Points.
  • Cashback when you spend with the card.

Rewards credit cards let you earn points per dollar you spend. Some offer thousands of bonus points if you spend a certain amount after opening the card.

The points are credited to your account or a linked loyalty program, where you can redeem them for rewards that range from flights and hotel bookings to gift cards, cashback and retail items.

Many rewards points programs let you transfer your points to a frequent flyer program, usually at a rate of 2:1 or 3:1.

Pros and cons of rewards credit cards

Pros

  • Points for spending. The most obvious perk of these cards is that you earn rewards of your choice, for money you were going to spend anyway. Why not get a reward for spending?
  • Bonus points offers. New cards usually offer a bunch of bonus points when you spend a certain amount in the first few months. These points offers should have a dollar value that's greater than the cost of the card's annual fee.
  • Perks. Rewards credit cards often come with extra perks like complementary travel insurance, purchase insurance, concierge services and lifestyle and entertainment offers.

Cons

  • Higher rates. To pay for the points and perks, these cards typically charge higher ongoing interest rates than other cards. But if you pay off your balance in full each month the interest rate doesn't matter.
  • Annual fee. Rewards cards come with an annual fee that can cost several hundred dollars.
  • Temptation to overspend. The promise of rewards points can lead you to spend more than you usually would.
  • Rewards limitations. Some rewards cards cap how many points you can earn.

Reward credit cards are popular in Australia, with Finder research showing 29% of Australians got their last credit card for reward points.

Types of credit card rewards in Australia

Credit card rewards can be separated into 3 main categories: frequent flyer, rewards points and cashback.

Rewards points programs

Many rewards credit cards in Australia earn points that you can redeem for different types of rewards, including gift cards, retail items, credit on your account, travel or point transfers to other loyalty programs. These flexible rewards programs include:

Frequent flyer rewards

If you're a member of a frequent flyer program, you can use a credit card to earn more points or miles in 2 ways:

1. Frequent flyer points per $1 spent

Credit cards that directly partner with a frequent flyer program let you earn frequent flyer points on your spending. Points are automatically added to your frequent flyer account once a month (or at regular intervals).

In Australia, the main options are Qantas Frequent Flyer and Velocity Frequent Flyer credit cards.

2. Reward point transfers to frequent flyer programs

A lot of rewards credit card let you transfer points to different frequent flyer programs. This gives you more flexibility because you're not locked into earning points for one airline loyalty program.

It's also a way to earn points with programs that don't have co-branded cards in Australia, including Singapore Airlines KrisFlyer, Cathay Pacific Asia Miles and Emirates Skywards.

💡 Tip: You can also get a rewards credit card that lets you redeem points for flights, accommodation and other travel experiences without needing to transfer them to a frequent flyer program.

Cashback credit cards

These credit cards give you a way to get cash rewards for your spending, either in the form of credit back on your account or vouchers you can spend.

Some cashback credit cards give you a set percentage of your regular spending as cashback on your account, while other cards have introductory offers that provide a one-time account credit or voucher when you meet the spend requirements.

There are limits to how much you can earn via cashbacks each month.

How to compare rewards credit cards

From earning points to the rewards you want to redeem, here are some of the questions and factors to think about when you're comparing rewards credit cards:

1. How can I earn points?

  • Bonus point offers. These can give you a huge amount of value when you get a new card. Usually, you need to meet a spend requirement in a set period of time to score bonus points.
  • Points per dollar. Also known as the earn rate, this is how many points you earn for your spending. The higher the better, but a card that earns at least 1 point per $1 on eligible transactions would be considered good value.
  • Point expiry and caps. Some credit card reward points expire after a certain amount of time and some have a limit on how many points you can earn in a month or year.

What are eligible purchases on a rewards card?
Most everyday spending is eligible to earn points, including groceries, petrol, retail items and travel. Transactions that don't usually earn points include cash advances, BPAY payments and spending with government bodies. You should check your card's rewards program terms and conditions for full details.

2. What's the value of the rewards?

  • Point values. To work out the value of your rewards, consider how many points you would need to redeem a chosen reward. For example, let's say you need 12,000 points to get a $50 gift card and your credit card has an earn rate of 1 point per $1 spent. You would need to spend $12,000 before you could redeem the $50 gift card. Calculating reward point values like this can help you decide if it's worth your time and money.
  • Rewards partners. Rewards programs sometimes partner with retailers and businesses to give you more ways to redeem points. You may also have the opportunity to earn bonus points with partner stores. If there are partners you already shop with, this could help you earn and redeem points faster.
  • Redemption limitations. Some rewards programs have blackout periods when you may not be able to make redemptions, or limits on items in the rewards store. Check the fine print for this information.

Points-to-dollars calculator 💵

How much do you need to spend to get rewards?

To give you an idea of the potential value of rewards, we've compared the amount of points you need to redeem a $100 gift card through major rewards programs that are linked to credit cards.

Rewards programPoints needed for $100 gift cardPopular card and ongoing annual feeSpend required for $100 gift card
American Express Membership Rewards20,000Amex Explorer: $3952 points per $1: $10,000
Flybuys Rewards20,000Coles Rewards Mastercard: $992 points per $1: $10,000
ANZ Rewards Program22,225Rewards Platinum: $1491.5 points per $1: $14,817
Suncorp Bank RewardsFrom 20,900Suncorp Clear Options Platinum: $1291.25 points per $1: $16,720
CommBank Awards20,650CommBank Awards Card: $961 point per $1: $20,650
Citi Rewards ProgramFrom 20,900Citi Rewards Card: $1991 point per $1: $20,900
HSBC Rewards Plus24,000Platinum: $1491.5 points per $1: $16,000
Bendigo Bank Rewards37,040Bendigo Bank Platinum Rewards: $891.5 points per $1: $24,694
Westpac Altitude Rewards25,000Westpac Altitude Platinum: $1751 point per $1: $25,000

Fees, points and redemption values correct as of July 2024.

Based on this table, the minimum spend required for a $100 gift card (or equivalent) is $10,000 with American Express Membership Rewards or Flybuys if your credit card offers 2 points per $1 spent.

3. What are the costs?

  • Annual fees. Rewards credit card annual fees range from around $50 to $1,450 in Australia. Some rewards credit cards offer no annual fee for the first year or ongoing. The value of the rewards you redeem should be higher than the cost of the annual fee to make it worthwhile.
  • Purchase interest rates. Rewards credit cards typically have high interest rates for purchases, which can be up to around 24%. If you pay the card off as you go, or in full by the statement due date, you'll usually get interest-free days for purchases. Otherwise, the cost of interest could outweigh the value you get from earning points.

The annual fee and interest rate for purchases are 2 key costs to factor in when you're comparing rewards credit cards. But there are other costs that could also affect the value you get from a card in more specific situations.

4. Are there any complimentary extras?

Rewards credit cards often come with a variety of additional features that can add value if you use them. Popular perks include:

Jessica Prasida

I change my rewards credit card every year to get the best value from bonus points offers. I redeem my bonus points for gift cards or flight rewards and it usually brings in about $500 worth of value. You just have to be vigilant with paying off your card, closing the account before incurring the next year's annual fee, and not churning too frequently because it could affect your credit score.
— Jessica Prasida, publisher

Frequently asked questions

Finder Award winner and finalists for 2024

Find out which brands ranked highly at the Finder Awards for rewards credit cards.

Each year the Finder Credit Card Awards recognises the top credit cards in Australia. Using 12 months' worth of data, our experts have analysed the rates, fees and offer details from over 270 cards.

Richard Whitten's headshot
Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise
Richard has written 526 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips
Amy Bradney-George's headshot
Co-written by

Editor

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio

Amy's expertise
Amy has written 596 Finder guides across topics including:
  • Credit cards
  • Frequent flyer
  • Credit score
  • BNPL
  • Money management
  • Sustainability

More guides on Finder

  • Credit card churning in Australia

    Well-known among frequent flyers and point chasers, this controversial strategy involves taking advantage of bonus point offers on different credit cards.

  • How to pay the ATO by credit card and earn rewards points

    Find out which credit cards offer points for payments to the ATO and how much the rewards are really worth.

  • Amplify Rewards Program

    Learn how you can build points with St.George and Amplify Rewards to redeem them for gift cards, wine, travel and more.

  • MYER one rewards program

    Get rewarded with shopping credits and a $20 Reward Card when you regularly spend at Myer stores and at any participating affiliate partners.

  • Coles Flybuys vs Everyday Rewards comparison

    Compare Coles Flybuys or Everyday Rewards to find out which one can offer you more rewards on your grocery shop.

  • Gift cards sold at Coles and Woolworths

    Gift cards can be thoughtful and practical presents for people. Read this guide on Woolworths and Coles gift cards to find out what you need to know when buying and using them.

  • How to earn reward points via PayPal

    Link your credit card to your PayPal account and you could earn points while shopping online with buyer protection.

  • Credit Card Points Calculator

    Credit card rewards and other loyalty programs have the potential to offer you extra value for your spending – here’s how to work out if you are getting it.

  • Flybuys credit cards

    Use your credit card to earn up to 3 Flybuys points per $1 spent on everyday expenses and redeem a variety of flight and shopping rewards.

Ask a Question

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

106 Responses

    Default Gravatar
    RonJanuary 7, 2018

    Can I use diners club rewards with Emirates?

      AvatarFinder
      RenchJanuary 7, 2018Finder

      Hi Ron,

      Thanks for your inquiry.

      Yes, the Diners Club Rewards program also allows you to transfer your reward points to 17 airline and travel loyalty programs, including Virgin Australia’s Velocity frequent flyer program, Emirates Skywards, Etihad Guest, and Hilton Honors.

      You can learn more about Diners Club Rewards program.

      Best regards,
      Rench

    Default Gravatar
    KymJuly 27, 2017

    I spend and pay off in full about 25K per month of normal spending on my Citi Signature card which since the 1st July 2017 have at best halved their reward points which I use for Qantas flights.
    What is the best card now for me to get the most points for my spend per month, ie who is dollar for dollar and uncapped

      AvatarFinder
      HaroldJuly 28, 2017Finder

      Hi Kym,

      Thank you for your inquiry.

      While we cannot recommend what is best for you, we can offer you general information. You can check the list of frequent flyer credit cards featured on our website to learn more.

      I hope this information has helped.

      Cheers,
      Harold

    Default Gravatar
    MazJune 28, 2017

    Since the rules for the credit card reward points that you earn are changing as of the 1st July 2017, what would be the best rewards card that you can earn points for make payments to the ATO? Currently have a Westpac Altitude Rewards card and this is changing from 1st of July 2017 where you no longer receive points for ATO payments.

      AvatarFinder
      JhezelynJune 28, 2017Finder

      Hi Maz,

      Thanks for your comment.

      Please read more about the credit cards that let you earn points when making payments to the ATO. Compare the credit cards that earn points for tax payments and after you’re done comparing, select the “Go to Site” button to be redirected to the bank’s website to apply.

      I hope this helps.

      Regards,
      Jhezelyn

    Default Gravatar
    AlanMarch 21, 2017

    I was hoping you could crunch the numbers and let me know the best value reward credit card available.

    I currently have a Jetstar Platinum MasterCard
    Spending approx $60k pa
    I receive 2 points per dollar (2%) return
    1 point = $1 when redeemed so about $1200 only catch is have to use as Jetstar flights.
    Annual fee is $49 + additional card $39 so $88 annual fee

    Can you suggest a card to offer me better value or the same that has more flexible rewards.

    Many thanks
    Alan

      AvatarFinder
      HaroldMay 5, 2017Finder

      Hi Alan,

      Thank you for your inquiry.

      It is good that you’re trying to do the math and see which one would be a better option. Regrettably, we can’t provide specific recommendations for you. Thankfully, you can always compare your options on this post. We have listed some of the best rewards credit cards available in the market today.

      Alternatively, you can also check our list of frequent flyer credit cards if in case you want to explore other programs.

      I hope this information has helped.

      Cheers,
      Harold

    Default Gravatar
    BrianJuly 5, 2016

    Need a replacement card as mine is almost beyond being usable

      AvatarFinder
      DeeJuly 7, 2016Finder

      Hi Brian,

      Thanks for your comment.

      May I know what type of card you are currently holding so I can assist you?

      Alternatively, you can also try logging into your account on your bank’s website and check if there is a feature for requesting replacement cards.

      Cheers,
      Anndy

Go to site